KUALA LUMPUR, Sept 7 (Bernama) -- Bursa Malaysia traded higher on Monday, supported by renewed buying interest in selected banking and telecommunications heavyweights, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.69 points, or 0.39 per cent, to 1,714.79, compared with Friday’s close of 1,708.10. The benchmark index opened 1.60 points higher at 1,709.70 and fluctuated between 1,708.26 and 1,715.29 throughout the trading session. The broader market, however, was negative with losers outpacing gainers 611 to 488, while 580 counters were unchanged, 1,109 untraded and 25 suspended. Turnover declined to 3.60 billion units valued at RM2.45 billion from 4.33 billion units valued at RM2.98 billion on Friday.
KUALA LUMPUR (Oct 17): The FBM KLCI gained 3.75 points or 0.22% today with Asian shares after US equities' overnight rise.
Reuters reported that US stocks surged more than 2 percent on Tuesday after upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs and solid economic data, as equities rebounded from a recent sharp sell-off.
It was reported that Asian equities got some welcome relief on Wednesday after upbeat US earnings reports drove a rebound on Wall Street and helped restore a little faith in emerging market stocks and currencies.
In China, the Shanghai Stock Exchange Composite climbed 0.6% while Hong Kong markets were closed today for the Chung Yeung Festival holiday.
In Malaysia, Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com: “The US markets saw an overnight gain, which has lifted sentiment on the local market, especially after the recent sell down. Investors may also be doing some bargain hunting after the decline.”
Across Bursa Malaysia, 2.03 billion shares were traded for RM2.08 billion.
Top gainers include Carlsberg Brewery Malaysia Bhd, British American Tobacco (M) Bhd and Malaysian Pacific Industries Bhd.
Leading decliners included Hong Leong Bank Bhd, Hong Leong Financial Group Bhd and Westports Holdings Bhd.
Source: The Edge
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